Burlington County Market Report
So how is the market these days? That's a question I often hear from prospective buyers and sellers alike. If you listen to the national media, most of the stories you hear are all doom and gloom. You constantly hear about how hard it is to sell a home right now and how hard it's becoming for buyers to get a mortgage. Are we in a tough market right now? In one word...Yes! But if you are motivated enough to buy or sell, it can happen!
At the end of the day, the biggest factor is price. If the home is priced approprietly and aggresivley...it will sell! Yes things have slowed down, but homes are still selling!
Compared to this time last year, home sales are down about 15%. In 2006 at this time, almost 4,000 homes had been sold in Burlington County year to date. So far this year, about 3,400 homes have sold. I'll say it again, yes things have slowed down, but homes are still selling!
In Burlington County the average price continues to hover around $300,000. This includes condos, townhomes and single family homes. Of the homes that sold this year, they are on the market just under 3 months on average. Of the homes that sold, they are selling at about 94% of listing price. Again, this is a listing price that is priced approprietly and aggresivley.
Bottom line, if you are motivated to sell it can happen. The days of pricing it higher to see what happens are gone. Nothing will happen! If priced properly with the right marketing plan, homes will continue to sell.
For more information about Burlington County Real Estate please feel free to contact me.
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